ADP®Renews Agreement with Visa amid Rising Adoption of U.S. Prepaid Cards
Four Million Checks Lost Annually Cost Businesses $8 to $10 per Replaced Check1
FOSTER CITY, Calif.--(BUSINESS WIRE)-- Visa Inc. (NYS: V) and ADP today announced an agreement to offer employers the ALINE Pay by ADP® electronic payroll program. The ALINE Pay program includes the award-winning ALINE Card by ADP®, a Visa prepaid card that can be integrated into an organization's current payroll system as a standalone product or as part of the ALINE Pay solution. The agreement is a multi-year extension of their existing relationship that helps make employer payroll more efficient.
"Increasingly, employees are benefitting from the prepaid suite of products for receiving payroll with immediate and secure access to their funds, especially underbanked and unbanked employees who have limited or no access to traditional banking relationships," said Brian Triplett, head of North America prepaid products, Visa Inc. "By working together, Visa and ADP continue to help businesses address the needs of an evolving workforce, while saving time and money with a paperless solution."
"As a leader in payroll distribution and processing, ADP helps organizations streamline payroll administration by enabling them to make the switch to 100 percent electronic payroll," said Gary Lott, ADP general manager and division vice president, ADP Electronic Payments, Unemployment Claims, Employment Verification and Wage Garnishment Services. "Through the ALINE Card and our agreement with Visa, we're empowering today's workforce to save money and time through online bill pay, mobile access, account balance alerts via text or email and the ability to make purchases in stores, online and over the phone."
The electronic payroll solution ALINE Pay by ADP®, which includes the ALINE Card by ADP®, provides employers of all sizes a convenient way to achieve 100 percent electronic pay. ALINE Pay is one component of ADP SmartComplianceSM, a cloud-based unified platform of outsourced services that helps medium and large businesses better manage payroll, tax and employment compliance.
Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks—VisaNet—that is capable of handling more than 24,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit corporate.visa.com.
ADP ® (NAS: ADP) , with more than $10 billion in revenues and approximately 600,000 clients, is one of the world's largest providers of business outsourcing and human capital management solutions. Leveraging over 60 years of experience and a global footprint spanning more than 40 countries, ADP offers a wide range of human resource, payroll, talent management, tax and benefits administration solutions from a single source, and helps clients comply with regulatory and legislative changes, such as the U.S. Affordable Care Act. ADP's easy-to-use solutions for employers provide superior value to companies of all types and sizes. ADP is also a leading provider of integrated computing solutions to auto, truck, motorcycle, marine, recreational vehicle, and heavy equipment dealers throughout the world. For more information about ADP SmartCompliance or to contact a local ADP sales office, reach us at 1.855.237.4236or visit the company's Web site at www.ADP.com/SmartCompliance
1 Subcommittee Works to Clear Up Muddled Message on Paycards" by William Dunn, CPP, APA Paycard Sub-committee, May 2009
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